Wallace, CA
Population 743 · California
About Wallace, CA
Wallace is a small community located in California with a population of 743 residents according to the latest US Census Bureau American Community Survey data. The median household income is $113,462 per year, which is 51% above the national median of $75,149. The median age of 40.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Wallace features a median home value of $562,500, which is 130% above the national median of $244,900. This places Wallace in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 238 total housing units, 68% are owner-occupied (161 units) and 32% are renter-occupied (77 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Wallace shows an unemployment rate of 5.5%, which is near the national rate of 3.7%. The poverty rate stands at 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Wallace have an average one-way commute time of 60.9 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
39.4% of Wallace residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.6% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.6% of the population being foreign-born.
Cost of Living in Wallace, CA
Compared to national averages, Wallace has a median household income of $113,462 (51% above the national median of $75,149). Home values average $562,500, which is 130% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within California, Wallace's income is 16% above the state average of $97,829, and home values are 14% below the state median of $653,874.
Why Live in Wallace, CA?
Wallace offers a strong local economy with a median household income of $113,462, well above the national average, and rent that’s lower than the national average at $0/month, and a well-educated community where 39.4% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 0.0%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $562,500. However, Wallace’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Wallace has a population of 743 with a median age of 40.4 years. Compare Wallace with other cities to see how it stacks up, or explore all cities in California.
Similar Cities Near Wallace
Cities in California with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mi-Wuk Village | 743 | $132,870 | $549,100 | Compare |
| Alta | 740 | $94,718 | $468,200 | Compare |
| Deer Park | 740 | $108,261 | $1,065,900 | Compare |
| Hickman | 749 | $88,906 | $523,600 | Compare |
| Kenwood | 750 | $125,221 | $884,100 | Compare |
| Lakeside CDP (Kern County), California | 734 | $0 | $0 | Compare |
| Patton Village | 732 | $0 | $72,200 | Compare |
| Aguanga | 756 | $0 | $0 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in California
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Wallace With Other Cities
Frequently Asked Questions about Wallace
What is the population of Wallace, CA?
The population of Wallace, CA is 743 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in California.
What is the median household income in Wallace?
The median household income in Wallace, CA is $113,462 per year, which is 51% above the national median of $75,149.
What is the median home value in Wallace?
The median home value in Wallace, CA is $562,500, which is 130% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Wallace?
The median monthly rent in Wallace, CA is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace, CA is 5.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Wallace, CA a good place to live?
Wallace offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 743 and a median age of 40.4, the city appeals to a broad range of residents.
How educated is Wallace, CA?
39.4% of residents in Wallace aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Wallace?
Key cost-of-living indicators for Wallace, CA: median home value is $562,500 (130% above national), median rent is $0/month, and median household income is $113,462. The home-value-to-income ratio is 5.0x, a moderate figure by national standards.
What is the poverty rate in Wallace?
The poverty rate in Wallace, CA is 0.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Wallace, CA?
Wallace's population is 1.6% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.6% of residents are foreign-born.